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potts in washington. tracie, good morning. >> reporter: good morning. there are two different approaches here. one democrats who want to make sure whatever deal they come up with holds through the 2012 elections. republicans are looking at a step by step process where they would cut a trillion and raise the debt ceiling some now and come back to renegotiate part of this before the election. democrats and the president say no way they'll go for that. that's why we're at a stalemate. the issue now is timing. you mentioned meetings over the weekend. president obama we saw with top democrats at the white house trying to urge them to compromise more. republicans met with john boehner. he told conservatives they've got to be a little bit more giving in terms of compromise. so here we are at a stalemate and the world markets this morning are reacting. on the bbc one high level english official said that as he put it right wing nutters in congress are causing more of a problem to the world economy than europe and the european economies and their problems. amara? >> tracie potts in washington. tr
enough support to bring his debt ceiling bill to a vote. tracie potts has the latest details from washington. tracie, good morning. >> reporter: at this hour, amara, good morning. the americans are nervous. the white house is concerned. lawmakers here on capitol hill frustrated. some of them furious at the tea party. one lawmaker called it pretty scary. >> what's going on in the house is crazy. is a disgrace. it is an outrage. >> the republicans are holding hostage the credit of the united states of america. >> do you have the votes? >> reporter: he didn't. it may come up again today, but speaker john boehner had to postpone a vote on his $1 trillion deficit plan because he couldn't get enough votes from his own party. >> the last thing we need to do is be playing around with august the 2nd. >>> tea party conservatives blocked it. >> i can't vote for a bill that only cuts $1 trillion. >> this is the only proposal on the table that accomplishes the goals we set out to do. >> reporter: boehner meets with republicans again this morning. he is not giving up. >> we need to try to find
to a vote. tracie potts has the latest details from washington. tracie, good morning. >> reporter: americans are getting nefrk us. the white house is concerned. lawmakers are frustrated, some of them furious with the tea party. one lawmaker called it pretty scary. >> what's going on in the house is crazy. it is an outrage. >> the republicans are holding hostage the credit of the united states of america. >> do you have the votes? >> reporter: he didn't. it may come up again today, but speaker john boehner had to postpone a vote on his $1 trillion deficit plan because he couldn't get enough votes from his own party. >> the last thing we need to do is be playing around with august the 2nd. >>> tea party conservatives blocked it. >> this is the only proposal on the table that accomplishes the goals we set out to do. >> i can't vote for a bill that only cuts $1 trillion. >> reporter: boehner will try again this morning. he is not giving up. >> we need to try to find a way to pay the nation's bills and do it in a responsible way. >> reporter: what's next? today the treasury department may introdu
is seeing progress. nbc's tracie potts joins us from washington with more. tracie, good morning. >> reporter: lynn, good morning. the president says we're seeing progress. what's unclear is how quickly that progress might lead to a deal, if that could happen before this deadline two weeks from today. president obama likely to sit down again with democrats and republicans before the end of this week to try to hammer something out. both sides set to talk later this morning, and also on the house floor today a vote on the cut, cap, and balance bill cutting the budget, capping federal spending, and calling for a balanced budget amendment. democrats say it is too harsh on medicare and social security, but there's another plan out there by a republican that is even tougher. $9 trillion in cuts, $1 trillion in tax increases by republican tom coburn of oklahoma. tax increases against the will of his own party. his plan would also require veterans to pay more for their medical care. none of this yet wrapped up. lynn. >> tracie potts for us in washington. tracie, thank you. >>> well, now here's a look
to be in the works. for more, we go to nbc's tracie potts in washington. tracie, good morning. >> reporter: good morning. the bottom line this morning, still no deal here in washington. ever so close to this deadline for default. republicans, democrats, the white house, all working overtime this weekend to try to come to some agreement. president obama had top democrats at the white house working on their backup plan. john boehner, the house speaker, meeting with conservative republicans last night telling them that they need to be ready to compromise and deal with some changes from what they originally wanted. there are two different versions here. democrats looking to, in fact, insisting that we deal with all of these cuts through 2013. republicans saying they want to do it step by step, which could mean more negotiations before the 2012 elections. the big concern this morning, will the markets be spooked by all of this just over a week from the deadline? we're already seeing lower asian markets. and in an interesting twist, the high-level english official says that it's, in his words, the rig
hill over the deficit and debt ceiling talks. for more on that we go live to nbc's tracie potts in washington. tracie, good morning to you. >> reporter: veronica, good morning. good morning, know. we hear this morning that there may be at least a short-term deal in the works where congress would be able to work this out so the united states does not default on its bills come august 2nd. here is that short-term deal. $1 trillion in spending cuts, which would allow the u.s. to borrow $1 trillion and prevent a default for at least seven months. another version of that. $2 trillion in cuts, $2 trillion in borrowing that would prevent default until the end of next year. john boehner's office says it hasn't seen anything on the table yesterday. president bush wants to raise taxes in part, but republicans are furious at him for suggesting this week that they've been taking too much time off as opposed to working on this very important issue. the tone here is, in fact, changing. one of the big concerns and senator harry reid brought this up yesterday, is if they don't come up with a dea
the bill. still, the president is saying he is seeing progress. nbc's tracie potts joins us from washington with more. tracie, good morning. >> reporter: lynn, good morning. republicans are calling this bill cut, cap and balance. essentially they want to cut the deficit, cap what the federal government is spending and then move toward a balanced budget amendment. an amendment to the constitution. democrats say those cuts hurt too heavily medicare and social security. it is expected to pass the house, not expected to pass the senate. will not get the president's signature. so that, democrats are saying is dead in the water there are a couple of republican plans on the table, including oklahoma's tom coburn, who is suggesting cutting $9 trillion from the deficit over the next decade, almost four times as much as democrats and republicans have been negotiating. he would also raise taxes, something that his party is against. mitch mcconnell has a different idea, he says let's let president obama deal with this debt ceiling himself and force democrats to go along. lynn? >> tracie potts in washin
the country's credit is tarnished. tracie potts joins us with much more on that. >> reporter: long-term being the keyword there. the president made a rare appearance at the daily white house briefing to announce that meeting tomorrow and also say he doesn't think a short-term deal to prevent defaulting on the bills will work. he thinks they need to come up with something permanent, cutting almost $2.5 million from the budget, including $400 billion in tax increases for the rich and he says they need to do it in the next two weeks so that the markets aren't rattled. house speaker john boehner says he will go to this meeting, but he is already calling it in his words fruitless, saying there is no way a republican controlled house will pass any sort of tax increase at all. republicans criticizing the president saying we've shown a plan. where is your plan? you'll likely hear much more about this later today when the president holds his first ever twitter town hall meeting from the white house. lynn. >> tracie potts, thank you. >>> and now here's a look at other stories meganews early today in am
. so where do things go from here? tracie potts has more from washington. good morning. >> reporter: good morning. it's a vote on a plan that democrats say will never reach the president's desk. budget officials found another $50 billion in savings, so house speaker john boehner is putting the plan to a vote today. >> the speaker's plan is on life support and it's time for him to pull the plug. >> never let them see you sweat. >> reporter: $1 trillion in cuts. it's no slam dunk, his own party wants more and complains his plan would add $7 trillion to our national debt. >> that is unacceptable and unsustainable. >> reporter: house republicans say they'd like to cut more, but democrats won't budge. >> we'd love to just go for it, but you have need a partner to dance with in the senate and we don't have one. >> it will not pass. every democratic senator will vote against it. >> reporter: democrats argue the boehner bill doesn't cut enough, so our credit rating could suffer and interest rates may go up anyway. >> that's $100 billion out of the pocket of the american taxpayer so that's a
that reflect the two sides being farther apart than ever on the issue. nbc's tracie potts has more from washington. >> reporter: we're now one week away from this possible default deadline and it looks like the white house and congress are no closer to a deal today. >> this is no way to run the greatest country on earth. it's a dangerous game that we've never played before and we can't afford to play it now. >> reporter: president obama is taking his behind-closed-doors fight public to pressure republicans into. >> the president wanted a blank check six months ago and he wants a blank check today. this is just not going to happen. >> reporter: boehner, who insists i gave it my all before negotiations broke down, argues the crisis isn't in congress, it's in the oval office. president obama refuses to sign his six-month temporary plan to raise the debt ceiling, reaction from capitol hill is all over the place. >> we can't continue on this trajectory, this president has spent $7.3 trillion. >> how do you negotiate with a group of people who have closed the door, mochd the goal posts, throw
. tracie potts joins us from washington with the arrest latest. >> reporter: this is the plan that boehner says will save the $1 trillion that both sides could agree on. it turns out the congressional bubbling office will only save $850 billion. that means he is sure he is back to the drawing board trying to find more savings. there are lots of questions on the house side about this plan as he now puts off a vote to try to get those numbers in line. he can only lose 22 republican votes and still get this plan through. ten republicans have already said they're not voting for it. now, on the senate side, harry reid's plan, still some yez questions there. it would save more than boehner's plan. not touching medicare or social security, but there are still even some democrats who aren't on board with this, and, of course, there are republicans in the senate who say it should go into cutting those entitlement programs. that vote also being put off. americans still very frustrated about this. the whole situation still unsettled with just six days to go, and those ratings agencies that you mentio
estimates. tracie potts joins us from washington with the latest. good morning. >> reporter: good morning. that spotless credit rating spotless no more in a few days. we'll hear from a couple ratings agencies to day here on capitol hill. they're testifying. meanwhile,john boehner is going back to the drawing board after saying his plan is $150 billion short of the savings he promised. he can only lose 22 republican votes and still get this plan through the house. ten have already said -- ten republicans have already said they won't vote for boehner's plan. conservatives saying this is a deal, not a solution. that's what they're looking for. on the other side, on the senate side, the democratic plan, harry reid's plan may actually cut more. but it doesn't touch medicare or social security. republicans are saying we need to make deep cuts in real programs. democrats are saying maybe it goes too far. but we actually need to get something done. so we'll vote for it. still, a lot of controversy about that plan. that one, postponed for vote as well. >> all right. tracie potts for us in washingt
and how might that affect ordinary families? veronica? >> tracie potts in washington. thank you. >>> a federal judge has blocked a controversial south dakota law that forces women who choose to have an abortion to face a three-day wait, the nation's longest. yesterday preliminary injunction sought by planned parenthood was granted preventing the law from taking effect today while it's challenged in court, saying it would humiliate and degrade women. the judge said the law is probably unconstitutional and that there's a public interest in protecting a woman's right to seek an abortion. under the measure women face a 72-hour waiting period and would have to under go counseling at pregnancy centers that discourage abortions. >>> now here is a look at some other stories making news early today in america. in arizona a transformer explosion at a power plant sent plumes of thick, black smoke into the air yesterday afternoon. the blast sparked a raging fire that consumed several pieces of equipment at the substation. crews worked into the night to restore power to an estimated 80,000 c
is tarnished. tracie potts joins us with more on that. >> reporter: long-term being the keyword there. a short-term deal to prevent defaulting for a few short months won't do. he thinks they need to come up with a permanent solution and they need to do it before the markets get spooked about the indecision. what they're facing is cutting 2.5 trillion from the budget over that time period president obama says it must include some tax increases on the rich. house speaker john boehner says it absolutely will not pass his republican house. he's calling this meeting of the white house tomorrow fruitless if the president, as he puts it, doesn't face reality. we'll hear more about this later today as the president hosts the first-ever presidential twitter town hall meeting. you can submit a question for that at the hashtag ask obama. thousands already have. >> i bet they have. tracie potts there for us in washington. thank you. >>> here is a look at other stories making news today. the dust in arizona took a while to settle on tuesday. a spectacular display of wind and dust swept across phoenix. dwar
? tracie potts has more from washington. the racie, good morning. >> reporter: good morning. democrats say it is going nowhere and will never land on the president's desk. budget officials found another $60 billion in savings. >> the speaker's plan is on life support and it is time for him to pull the plug. >> you're not worried? >> lefr let them see you sweat. >> reporter: a trillion dollars in cuts. his own party wants more and complains his plan would add $7 trillion to our national debt. >> that is unacceptable and unsustainable. >> reporter: house republicans want to cut more but democrats won't budge. >> you need a partner to dance with in the senate. we don't have one. >> it will not pass. every democratic senator will vote against it. >> reporter: democrats argue the boehner bill doesn't cut enough so our credit rating could suffer and interest rates may go up anyway. >> that's $100 billion out of the pocket of the american taxpayers. so that's an enormous flaw in the boehner plan. >> reporter: the white house is trying to keep congress focused on next week's deadline. >> from midn
vowed to veto the plan. where do things go from here? tracie potts has more from washington. >> reporter: good morning. it is unlikely that it would pass even the senate. the senate majority leader, harry reid, said every democratic senator will vote against it, so it won't each reach the president's desk. this is the boehner plan that we've been talking about that would cut $1 trillion from the budget he says. the congressional budget office says they found an extra $50 billion, and they're putting that up for vote today. even conservative republicans in the house are concerned about it not for what it would say, but what it would add to the debt. $7 trillion. the tea party is calling that unacceptable and unsustainable. so what are the options? there's another plan on the democratic side and on the republican side in the senate, but the democrats haven't even hit the floor yet, and as you said earlier, we may be wasting precious time here. we're five days away from this deadline for default. >> tracie potts in washington. thank you for that report. >>> new census numbers show small tow
good morning. i'm tracie potts in washington. we have the latest. >> the city fire academy may lose its accreditation. we'll tell you why. >> can a principal search a students cell phone without a warrant? tell us when you think. >> your weekend forecast as the forecast comes up and we continue. [captioning made possible by constellation energy group] captioned by the national captioning institute --www.ncicap.org-- >> live, local, late-breaking, this is wbal-tv 11 news today. >> good morning. tgif. i am mindy basara. >> and i am stan stovall. thank you for joining us this morning. >> the heat getting to you guys? >> we have some problems. >> it will be hot again today. it will last for one day. like -- not like a big long heat wave. you will notice the difference when you step outside. we've had some showers that have been persistent. a couple of showers up and down 83 in baltimore county. north of the pennsylvania line. some of you may get some rain to start today. hasek, hot, and humid as we head into the afternoon -- hazy, hot, and humid. we will get some storms that will close
in common that last- minute deal looks possible. one problem is the cost. tracie potts explains. >> john boehner is digging for more money. his plan is $150 billion short on savings, so he has put off the vote. >> it can pass the house and it can pass the senate. >> the proposal cannot pass the senate and will not reach the president's desk. >> john boehner can afford to lose 22 republican votes in. >> i want a solution and i don't think this goes far enough. >> harry reid is also postponing a vote on his plan which saves more without touching medicare and social security. >> you have to cut real programs to get this deficit down. >> this is a plan that gets us where we need to go. >> what are americans think the? >> totally frustrated. >> just six days to go. the real fear is that all this in decision may be affecting americans' credit rating whether or not there is a last minute deal. one of the ratings agencies testifies here today. tracie potts, wbal-tv 11 news. >> marilyn's congressional delegation is facing similar divisions. -- maryland's congressional delegation is facing similar
the congressional budget office said his proposed spending cuts failed to meet his estimates. tracie potts joins us from washington with the arrest latest. >> reporter: good morning. everyone. boehner put off his plan after staffers determined it won't save as much as he thought. republican john boehner is digging for more money. he said his plan is $150 billion short on savings, so he's put off today's vote to get the numbers in line. >> it can pass the house, and it can pass the senate and i hope the president will consider signing it into law. >> the speaker's proposal cannot pass the senate, will not pass the senate, will not reach the president's desk. >> boehner can only afford to lose 22 republican votes. ten have said they're voting against it. >> i want a solution not a deal. >> does this end the batter. >> harry reid has his plan which saves more without touching medicare and social security. >> you've got to cut real programs if you're going to get this deficit down. >> this is a plan that gets us where we need to go by august 2nd. >> what are americans thinking? >> totally frustrated. >
today. tracie potts has a tour of some of those celebrations. >> the fireworks industry expects to make $1 billion this holiday despite the drought that canceled many celebrations. in parts of central texas, sales are banned or restricted. >> it cut in to about 75% of it for this season, but we'll make it up next season. >> georgetown, texas, will give it a try anyway. they have spotters and three firetrucks on standby. >> with the location we have, the green grass and the ball fields and our fallout zone is secured. we should have minimal to zero issues. >> sales are booming in south carolina, where people crossed state lines to buy what's not legal at home. >> meg and the kids, barbecuing. we're having regular, old- fashioned fun. >> over the weekend, thousands gathered in philadelphia's kens landing to remember. >> i think about our country and what we're going through at the present time and how we all have to chip in. >> ♪ all come to look for america ♪ >> near the u.s. capitol, rehearsals are underway for an all-star concert that will honor america's wounded warriors. >> under
the struggle our vets have to go through the cracks and the freedom they fought for. tracie potts, wbal-tv 11 news. >> the last space shuttle mission is only 10 days away. there will we plenty of last time in this is. tuesday was the final flight witness review. we have an update. >> the cargo has arrived. technicians had eased it into the cargo bay. >> this flight is important. the cars that is coming up on this flight is mandatory. >> the importance of this flight was a major topic. mission managers examine the potential leak that was found to squeeze ago and said it was a good thing it was found. it's likely would have caused a delay. the appearance of some debris during liftoff is not expected to recur. only four ass does will be on board. they will go home one by one on russian capsules over the next year if atlantis is damaged. this is about leaving the space station crew able to survive without regular shuttle flights and more. no one knows how reliable the new space ships will bay. >> we are kind of doing a surge here to get us another year of a lifetime in case we have some problems
. both sides think they can work with it. tracie potts has more. >> the yeas are 234. >> a house vote was largely symbolic. >> mr. president, we dare you to veto this. >> president says he will not sign appeared in new deal, $4 children in spending cuts, lower taxes, and one trillion dollars gained by closing tax loopholes the quick the congressional budget office was score this as a $1.5 trillion tax cut. >> it has to be passed with 67 votes to get around the caps. they'll be highly unlikely. >> both sides praised the compromise. >> i support it. >> there is little time to work out the details. >> we only have 13 days. 13 days. there is a number of senators who said they will do everything they can to stop the debt ceiling from been increased. >> a new poll finds most americans want to see compromise. a majority support the president's approach, which includes tax increases. tracie potts, wbal-tv 11 news. >> now traffic pulse 11 and insta-weather plus together. >> good morning to you. sarah caldwell checking on your morning commute. we have a new problem if you travel in howard count
the government from defaulting. tracie potts has more. >> we are talking about runaway spending that we cannot afford. >> sound familiar? that is minnesota. over night the state's government shut down because democrats and republicans could not agree on whether to raise taxes to cover their upside-down budget. the same thing is happening in washington. >> government has to live within its means. so i am prepared to bring our deficit down by trillions of dollars. >> in part by raising taxes. republicans refuse to even consider it. now they're furious after mr. obama criticized them this week for taking too much time off work. >> all we need is the president to step up and give us a proposal. so far he has laid back and criticized everybody else. >> a democratic aide reports there may be a deal on the table -- a trillion dollars in cuts. only a quarter of what's needed. that would allow the u.s. to borrow another trillion dollars, keep the bills paid for seven more months, and perhaps prevent a market meltdown. >> we need to work out some arrangement quickly before the markets start to react and
. tracie potts explains why that vote gets us no closer to a compromise. >> budget officials found another $50 billion in savings. john boehner is putting his plan to a vote today. >> the speaker's plan is on life support. it is time for him to pull the plug. >> you're not worried? >> never let them see you sweat. >> $1 trillion in cuts. it's no slam-dunk. his own party wants more and complains his plan would add $7 trillion to our national debt. >> that is unacceptable and unsustainable. >> house republicans would like to cut more, but democrats will not budge. >> you need a partner to dance with in the senate and we don't have one. >> it will not pass. every democratic senator will vote against it. >> democrats argue the bill doesn't cut enough, so our credit rating could suffer and interest rates may go up anyway. >> that's $100 billion out of the pocket of the american taxpayer. that's an enormous flaw in the plan. >> the white house is trying to keep congress focused on next week's deadline. >> from midnight august 2 forward, you are running on fumes. >> the democrats do have an alter
be in the works to prevent the federal government from defaulting on its bills in august. tracie potts has the story from washington. >> we are talking about runaway spending that we cannot afford. >> sound familiar? that is in minnesota. the state's government shut down because democrats and republicans could not agree on whether to raise taxes to cover the budget. the same thing is happening in washington. >> government has to live within its means. i am prepared to bring our deficit down by trillions of dollars. >> in part by raising taxes. the president was being criticized for taking too much time off of work. >> the president has criticized everybody else. >> a democratic aide reports there may be a deal on the table. $one trillion in cuts. would allow the u.s. to borrow another trillion dollars and perhaps prevent a market meltdown. >> we need to work out some arrangement quickly before the markets start to react and american families start to face the consequences. >> republicans are split on whether to take a short-term deal. tracie potts, wbal-tv 11 news. >> timothy geithner said
impression during their first visit, raising expectations for their first trip to america. tracie potts has the latest from los angeles. >> reporter: good morning. hi, i'm tracie potts. we're live this morning in los angeles, actually in beverly hills, in front of the beverly hilton. this will be the first stop when the royal couple arrives in los angeles. today they've got a reception here, another one at the home, the private residence of the british consular general. and then they're headed up the coast to a polo match near santa barbara and then back here to l.a. pretty busy weekend, a pretty busy day here in los angeles. like they had in canada. we saw similar events there. they'll also be visiting some charities while here in los angeles. joe? >> tracie potts reporting from los angeles. thank you. while in calgary, the duchess of came brinl mabridge made one lis royal dreams come true. 6-year-old cancer patient diamond marshall wrote a letter to the children's wish foundation expressing her wish to meet the princess and give her flowers. she got more than that. kate greeted the little
amendment. nbc's tracie potts joins us now from capitol hill with more on some pretty positive signs here, tracie. >> reporter: it looks like there might be light at the end of the tunnel, but first that balanced budget amendment that passed the house is not going to pass the senate, even if it even comes up for a vote today. president obama has already said he won't sign it. that would cut $6 trillion with no revenue, no tax hikes. but what may work here is this plan you referred to by the gang of six, three democrats and three conservative republicans. let's take a look at the details. it would save $3.7 trillion to $4.7 trillion over the next decade but cut tax breaks on north interest, 401(k)s, and charitable contributions. it would also overhaul the entire tax code, leading to lower taxes for everyone. president obama called it a very significant step. republican leaders said there are some good elements here, things we think we can work with. so it's not a deal. it's not finalized. but at of what looks like a compromise. aaron? >> we'll keep an eye on it. tracie potts, thank you. >>
the debt limit. for the latest, we go to tracie potts in washington for us. good morning. >> reporter: lynn, good morning. just a glimmer of hope this morning from the so-called gang of six. three democrats and republicans who have been working together on a compromise. the plan on the table would cut $4 trillion from the deficit, lower taxes, but also bring in a trillion dollars in new revenues by closing tax loopholes. both sides seem to like it at least as a first step. president obama calling this a very significant step in line with what he's been working on at the white house. republicans saying it has good elements. they want to take a very close look at this. that after republicans yesterday in the house passed their cap, cut and balance plan. it's pot expected to pass the senate as it moves forward today. president obama has already said he will not sign that $6 trillion plan. but there's still significant opposition here on capitol hill, but not across the country. a new nbc poll finds most americans want to see compromise here. >> so where exactly would the $4 trillion in cuts th
on that we go to nbc's tracie potts. she's in washington d.c. for us. >> reporter: just a glimmer of hope this morning from the gang of six, three democrats and republicans, who have been working together on a compromise. the plan on the table would cut $4 trillion from the deficit, lower taxes, but also bring in $1 trillion in new revenues by closing tax loopholes. both sides seem to like it at least as a first step. president obama calling this a very significant step in line with what he has been working on at the white house. republicans say it has some good elements. they want to take a very close look at this. that after republicans yesterday in the house passed their tax cut and balance plan. it's not expected to pass the senate as it moves forward today. president obama has already said he will not sign that $6 trillion plan, but there's still significant opposition here on capitol hill, but not across the country. a new nbc poll finds most americans want to see compromise here, lynn. >> tracie, thanks so much. >>> now here's a look at other stories making news early today in amer
in the ongoing divide over what to do about the nation's debt libt. for the latest on that we go to nbc's tracie potts. she's in washington d.c. for us. >> reporter: just a glimmer of so-called gang of six, three democrats and republicans who have been working together on a compromise. they have come up with democrats and republicans suggesting $4 trillion in cuts, lower taxes and $1 trillion in revenue. what does the public think? a new nbc poll finds 58% favor the president's approach of spending cuts and more taxes. lynn? >> thank you. now for a look at other stories making news early today in america. a car jacking led to an explosion of water in one los angeles neighborhood. the stolen car barreled over a fire hydrant creating a massive geyser that showered nearby homes. it took firefighters over an hour to shut the hydrant off. the alleged car jacker was hospitalized and arrested. >>> in minneapolis, a section of interstate 94 surrendered to soaring temperatures. the pavement on two northbound lanes buckled from the high heat and humidity. crews shut down the lanes, slowing traffic to a cr
out a deal, and the gridlock is not look good for wall street. tracie potts has the latest. >> asian markets opened lower this morning, shaken that washington could be on the verge of its first ever before. the big question now, how might wall street reacted this morning? >> it is unthinkable that this country will not meet its obligations on time, it just unthinkable that we would ever do that. >> a market slide could affect what you pay for mortgages, car loans, finance and college. right now negotiators are stuck over timing. democrats in the white house want to wrap this up now. >> i understand why they are saying they won't sign a short- term, but i don't think they have any choice and that is the only answer now. >> republicans want a short-term deal, cut $1 trillion now and negotiate more cuts before the 2012 election. >> it must be extended in a way that this uncertainty into the economy and not some short-term gimmick -- that is the certainty to the economy and that some short-term gimmick. >> i know the president is worried about the election, but by god, should he be worri
about two-thirds of what he wanted with no new taxes. >> tracie potts for us in washington. last night on the last word with lawrence o'donnell, steny hoyer told lawrence what he thinks about mixing taxes into the debate over raising the debt ceiling. >> very unfortunate that the republicans continue to pursue this particularly when mr. boehner and the president have reached an agreement tentatively on two different occasions. and mr. boehner has walked away. frankly the republicans have walked intentionally more than barry bonds. and the fact of the matter is that we need to come to an agreement, the senate, senator reid has offered exactly what they asked for. mr. cantor said we have no taxes in our bill. he was very pumped up about that to tell his constituents, that the richest people in america were not going to have to pay anything towards solving this problem. but frankly, the senate is prepared to offer that, because they feel very strongly responsible step to take is to make sure that america is able to pay its bills on august 3rd. >> don't miss "last word" with lawrence o'don
't get their fame from hollywood. prince william and catherine are drawing plenty of crowds. tracie potts joins us from santa barbara county with the latest. >> reporter: this is a perfect day to get all dressed up for a polo match, that's what hundreds of people did here today. we've seen the royal couple in the last day of their trip here to the united states, smiling and shaking hands, lots of photo ops, but today for the first time we got to see them in action. >> in california, where seeing celebrities is no big deal, even vip's are impressed. >> they've managed to carry themselves royally. >> prince william and the duchess of cambridge made a grand entrance, smiling but answering no questions. as usual, all eyes were on kate's attire. >> i think princess diana would be proud of who they are, and how they represent themselves is and their titles. on the red carpet we got an inside tip on the lunch menu. >> he loves dessert, he loves chocolate. i made merlot tarragon truffles. >> we also want to give the most disadvantaged young in society hope and confidence in their lives. we feel v
's tracie potts in washington. >> reporter: good morning. we're starting to see some signs that this gridlock in washington is not good for wall street. asian markets opened lower this morning, shaken that washington could be on the verge of its first-ever default. the big question now, how might wall street react this morning? >> it's unthinkable that this country will not meet its obligations on time. it's just unthinkable that we'd ever do that. >> reporter: a market slide could affect what you pay for mortgages, car loans, financing college. right now, washington is stuck on the timing. democrats and republicans want to tighten this up now. >> i don't think they have they choice. >> reporter: republicans want a short-term deal. cut $1 trillion now. and then, more cuts through the elections. >> and not some short-term gimmick. >> i know the president's worried about this next election. my god. shouldn't we be worried about the country? >> reporter: speaker boehner told conservatives to be ready to make compromises. >> if you break it, you own it. >> reporter: has the wor
after the stalemate on deficits and debt ceiling stocks. for more we go to tracie potts in washington. >> reporter: we hear this morning there may be at least a short-term deal in the works where congress would be able to work this out so the united states does not default on its bills come august 2nd. here is that short-term deal. a trillion dollars in spending cuts which would allow the u.s. to borrow $1 trillion and prevent a default for at least seven months. another version of that, 2 trillion in cuts, 2 trillion in borrowing that would prevent a default until the end of next year. house speaker john boehner's office said they have not seen anything on the table yet. president obama wants to raise taxes in part to prevent problems with the deficit, but republicans are furious at him for suggesting this week that they have been taking too much time off as opposed to working on this very important issue. the tone here is, in fact, changing. one of the big concerns and senator harry reid brought this us up yesterday s if they don't come up with a deal soon, how might the markets rea
-term deal to raise the nation's borrowing limit before the country's credit is tarnished. tracie potts joins us with more on that. >> reporter: the president made a rare appearance at the daily white house briefing to announce that meeting tomorrow and also say he doesn't think a short-term deal to prevent defaulting on our bills for a few more months will work. he thinks they need to come up with something permanent, cutting almost $2.5 trillion from the budget including $400 billion in tax increases for rich and they need to do it in the next two weeks. so that the markets aren't rattled. john boehner says he'll go to this meeting but he's already calling it, in his words, fruitless, saying there is no way a republican-controlled house will pass any sort of tax increase at all. republicans criticizing the president saying we've shown a plan. where is your plan? you'll likely hear much more about this later today when the president holds his first ever twitter town hall meeting from the white house. >> thanks so much. >>> americans are counting do you remember the days until prince william
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